In 2008, the software market is rapidly evolving towards
Software-as-a-Service and Cloud computing, and away from the
on-premise delivery model. In exploring these new models we will see
that this is more than a business or delivery model phenomena
affecting ecommerce - it is a shift that fundamentally changes
expectations of what software can accomplish. In this model data is
king. Algorithms and analytics become significantly more relevant as
the data is now housed in a central location. Drawing on examples from
our portfolio I will show how the most interesting companies today are
built from the ground up with data as the core asset. These companies
represent the new wave of technology that venture capital investors
are looking to fund.

Spectrum auctions are used by governments to assign and price licenses for wireless communication. The standard approach is the simultaneous ascending auction, in which many related lots are auctioned simultaneously in a sequence of rounds. I analyze the strengths and weaknesses of the approach with examples from US spectrum auctions. I then present a variation, the package clock auction, adopted by the UK, which addresses many of the problems of the simultaneous ascending auction while building on its strengths. The package clock auction is a simple dynamic auction in which bidders bid on packages of lots. Most importantly, the pricing rule and information policy are carefully tailored to mitigate gaming behavior. An activity rule based on revealed preference promotes price discovery throughout the clock stage of the auction. Truthful bidding is encouraged, which simplifies bidding and improves efficiency. Experimental tests confirm the advantages of the approach.